Savannah morning news. [volume] (Savannah) 1868-1887, 1887-03-27
TEE PROSPECTUS.

u
The Chattanooga Land, Coal, Iron and
Railway Company has recently been In
corporated under the laws of Tennessee.
Its authorized capital is twelve million
$4,000, O00) dollars, divided in shares Of
800 each.
The property Of the company consists OF
twenty-five thousand acres within and
contiguous to the city of Chattanooga,
the greater portion OF the estate being
less than six miles from the business
centre OF Chattanooga.
The property embraces the choicest
lands for residence, business and manu-
facture, and includes some ten thousand
acres OF coal, iron ore and timber land of
incalculabie value.
This property will be made available
and developed as rapidly as the judicious
expenditure of money will permit.
Among the objects and purposes of the
company are the erection of Two bridges
al once across the Tennessee river, along
which stream the company own ten
miles frontage: railroad traversing the
property and ur Walden's ridge 10 the
coal fields and two blast furnaces.
Manufacturing establishments are to
be encouraged by liberal donations, gen.
erous assistance and cheap fuel and
transportation.
The property is to be extensively ad-
yertlsed and new corners invited and in
duced to locate on the lands Of the COM
pany.
THE PLAN OF ORGANIZATION.
iOfthe twelve million dollars ($12, OO0,-
NV capital stock, two and one-half mil
og dollars ($2 ,000) will be preferred,
mat amount will De sold at once, and
P9very purchaser OF one dollar prefer
"a STOCK there will be given as bonus,
TTly cents IN common stock-an aggre-
ave OF one and one-fourth million dollars
rtI, oO0O) common stock. On this pre-
rred stock the company agree to nav
y ~ per cent in dividends from sales
~ property before any OF the common
LOCK participates in the profits.
ffeIDe common stock not held by preferred
R estocKnolders will be held by a trustee. in
q whose hands the stock is In trust with
{, me agreement that said trustee is to hold
f sara STOCK and neither release nor sell
, uhtll the market value is fifty cents or
more on the dollar. This assures the
hholGers Oh preferred stock their money
oacA' ana In addition at least 90 per
S Sent' Oh the face value for both the pre-
le au anu common stock held by them
ST. "toei we Iull lace value of the preferred
BUZZ W.; mas oeen repaid to them.
when the preferred stock has occurred
AVo per cent. in dividends it will then
cease 10 be preferred stock and partici-
80. 80 equaily with the other stock in
i i prouts' When the preferred stock
r no l's character as preferred stock by
L nh OIL having received 100 per cent. in
.I'luehds then all the stock of the com
p"n! STANDS on the same basis, all dis
s,uc',ons' such as preferred" and 0com-
"9h'" being discontinued.
la nd
~ , ne lanus OF the company will be nut
bIooI'o Ihet al once and sold In acres,
n'oU SECTIONS and lots, as the directors
such 80 - me proceeds arising from
nm tho 9 '1l's must ne used to pay dividends
On the preferred stock, exeent ter NOR
I'M, .eh'' OF such sales, which in the discrs-
tn ,ou Vi th= directors can be retained for
n re Improvement fund, but said fund ia
n ~ W exceed Five Hundred Thousand
dollars $500, 00O.) '"N"
ma Ia ulFlaends will be paid as often
~o eullclent money is accumulated ahove
c en. expenses to pay one ny per
VA me preferred stock.
saioe a1ultlon to the ten (10) per cent. of
trns,aa ianus there Is conveyed to the
And bon lne president, vice president
sors o"a VI directors and their success
the com ne million dollars ($1,O0O,O OO) OF
nil inion STOCK, par value. to he AN.
p a,' with the proceeds OF the nraforrad
tho III. ~ removing all inoumbrances ON
bera;n a ana making the improvements
nlov"s 5 are IN brief the means to be em-
iH,vyeu LOT improving and populatin0 tbie
th n estate. The scheme nnta siI 20
nr s oauvantase or the purchasers of the
raise , leu STOCK and common stock used 10
ora ~ 'ue necessary funds. The proiect.
holdin," tnelr faith in the enterprise bv
sn" Jh,ng S',2OO,O00 Of the common stock IN
The io oellls as must make absoluteIv az 70
mon s,rs in the preferred and com.
nronoa oSG already sold. Such a sobema
&acter I'I oy men Of the well-know WIN char
NM ,n ior integrity and responsibjlitv of
syidenoo porators, bears all necessary
&assd e OF good faith 10 purehasars
general plan. Tue success oil the
skomno permanent Organization NJ tn,s
Il naipany will not be made mil che e Snis
be orsy 10 June next, after The saia q,
5brs vii 1Iiie ,r stock. Then all stoekhoId~
Participate in the choice or oar-
III. THE CORPORATION.
men W. Ior Poration is composed OF Uen,lo.
IN n,a mno nave been among the fose,.a ,o,
Of PrrVS,noing the Development Of tha mos.
!, sssn,i 1tt,sa,aloo9ga. They have bean s S
:. -. - 'helr private business. several
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